I think it will fall back to around 900 if the ETF is unsuccessful. Thats when I'll buy.
It is difficult to conclude that Current price swing has been caused by ETP approval. And its disapproval may bring btc to 900$. For those who are positive about the ETF approval should know that ETF has disapproved BTC thrice. And rejection was not based on price swing but the overall security concerned with BTC. I'm not sure how much drop will happen after rejection.